On March 14, 2023, Cantor Fitzgerald initiated coverage of Cipher Mining with a Overweight recommendation.

Analyst Price Forecast Suggests 68.13% Upside

As of March 14, 2023, the average one-year price target for Cipher Mining is $3.06. The forecasts range from a low of $3.03 to a high of $3.15. The average price target represents an increase of 68.13% from its latest reported closing price of $1.82.

See our leaderboard of companies with the largest price target upside.

The projected annual revenue for Cipher Mining is $105MM. The projected annual non-GAAP EPS is -$0.17.

What are Large Shareholders Doing?

VTSMX – Vanguard Total Stock Market Index Fund Investor Shares holds 1,308K shares representing 0.53% ownership of the company. No change in the last quarter.

VITAX – Vanguard Information Technology Index Fund Admiral Shares holds 942K shares representing 0.38% ownership of the company. In it’s prior filing, the firm reported owning 243K shares, representing an increase of 74.20%. The firm increased its portfolio allocation in CIFR by 56.09% over the last quarter.

Geode Capital Management holds 877K shares representing 0.35% ownership of the company. In it’s prior filing, the firm reported owning 917K shares, representing a decrease of 4.62%. The firm decreased its portfolio allocation in CIFR by 60.75% over the last quarter.

IWM – iShares Russell 2000 ETF holds 831K shares representing 0.34% ownership of the company. In it’s prior filing, the firm reported owning 796K shares, representing an increase of 4.25%. The firm decreased its portfolio allocation in CIFR by 57.96% over the last quarter.

Renaissance Technologies holds 645K shares representing 0.26% ownership of the company. In it’s prior filing, the firm reported owning 35K shares, representing an increase of 94.56%. The firm increased its portfolio allocation in CIFR by 693.47% over the last quarter.

What is the Fund Sentiment?

There are 174 funds or institutions reporting positions in Cipher Mining. This is a decrease of 1 owner(s) or 0.57% in the last quarter. Average portfolio weight of all funds dedicated to CIFR is 0.08%, a decrease of 2.41%. Total shares owned by institutions decreased in the last three months by 58.00% to 15,460K shares. The put/call ratio of CIFR is 0.41, indicating a bullish outlook.

Cipher Mining Background Information
(This description is provided by the company.)

Cipher Mining, Inc. operates as a Bitcoin mining ecosystem in the United States.

This article originally appeared on Fintel